At the monetary policy meeting held by the Bank of Japan in April, it is necessary to carefully explain to the outside world that monetary policy is not aimed at controlling the exchange rate over the rapid depreciation of the yen. It turned out that there were a series of opinions.
The Bank of Japan has released the agenda of the monetary policy meeting held in April this year.
Regarding the rapid depreciation of the yen, some committee members said, "Monetary policy is operated to fulfill the mission of price stability, and it is not aimed at controlling the exchange rate. It is necessary to explain to. "
There was also an opinion that "when managing monetary policy, it is necessary to consider the impact on the economy and prices, not the fluctuation of the exchange rate itself."
On that basis, he decided to maintain large-scale monetary easing, saying that it is necessary to aim for stable price increases by supporting the Japanese economy, which is recovering from the new corona.
On the other hand, in order to curb the rise in long-term interest rates, the committee members commented that it is necessary to convey the attitude of continuing monetary easing without misunderstanding about a measure called "limit operation" to buy unlimited government bonds at a specified yield. It was issued and, in principle, decided to carry it out every day.